Expecting demand to pick up in 2014, most of the domestic steel producers have raised the steel prices between Rs 1,000 to Rs 1,500 per tonne. This move is aimed to offset increase in input and transport cost.
Tag: consumption
Post
Post
India consumed 17.80 mn t steel during April-June: Govt
India had a steel stock of 1.824 million tonne after real consumption of 73.33 million toone by the end of 2012-13, said the Union Minister of Steel Beni Prasad Verma recently. By the end of last June this year, the country had a steel stock of 1.626 million tonne, he added.
Post
Finished steel consumption inches up 0.2%
During Apr-Jul 2013, consumption of finished steel in India rose just 0.2 per cent to 24.1 million tonne (mn t) on year-on-year basis. During the same period, steel output grew 3.1 per cent to 26.1 mn t, from 25.3 mn t during the year-ago period. The muted growth in steel consumption is attributed to poor off-take by large sectors like construction and auto
Post
Odisha govt to introduce e-auction after conducting study
Odisha government plans to conduct e-auction of iron ore in the state after studying the same in Karnataka. For this purpose, two officials from Odisha steel and mines department and one from CSM technology would visit Karnataka and study iron ore e auction patterns, modalities and challenges in the state. Following a Supreme Court order in 2011, e-auction of minerals is being conducted in Karnataka and this in
Post
Odisha govt to introduce e-auction after conducting study
Odisha government plans to conduct e-auction of iron ore in the state after studying the same in Karnataka. For this purpose, two officials from Odisha steel and mines department and one from CSM technology would visit Karnataka and study iron ore e auction patterns, modalities and challenges in the state. Following a Supreme Court order in 2011, e-auction of minerals is being conducted in Karnataka and this in
Post
Steel firms to benefit from rupee depreciation
Steel companies are cheering the weakening of the Indian currency against the dollar as it would make export of steel products more competitive and discourage local consumers from resorting to import. Local steel consumers may find imports costlier because of the depreciation in rupee and this may benefit Indian steel companies
Post
India consumes marginally less steel during Apr-May
During April-May 2013, India consumed 11.69 million tonne (mn t) steel, a 0.8 per cent decline from 11.78 mn t steel consumed in the year-ago period. Data released by Joint Plant Committee, a body under the steel ministry shows. During the period, steel production grew 3.1 per cent to 13.03 mn t, led by higher output by SAIL and Tata Stee
Post
Demand for diesel grows more despite price rise
As per the data with the Petroleum Planning and Analysis Cell (PPAC) of the Union Ministry of Petroleum and Natural Gas, consumption of diesel continues to grow at a faster pace than other petroleum products despite the regular hike in diesel prices. Diesel consumption grew by 4.2 per cent year-on-year (y-o-y) in April to 6.2 million tonne.
Post
Rating agencies comment of Tata Steel’s writedown
According to analysts in India Ratings, Tata Steel's investment in its European unit has not delivered returns according to the management's expectation. This prompted the firm to writedown $1.6 billion asset in its European unit, Rakesh Valecha, Senior Director at India Ratings feels. Tata Steel attributed the writedown to "weak economic and market conditions" in Europe and it expects this situation to continue "over the near- and medi
Post
ONGC works on integration of overseas arm
The top management of state-run explorer ONGC is preparing a plan to integrate its domestic and foreign oil and gas exploration businesses in order to reap synergy. It may be noted that the domestic exploration business is taken care of by ONGC, while ONGC Videsh (OVL) handles foreign